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Commentary & Deal Flow

LAUNCHED: Republic of Finland US$1.5bn 10yr Sr Unsec; SOFR MS+48bp

IGC European Market: Deal Flow - SSAIGC US Market: Deal Flow - SSA

Issuer

Term

Maturity

Size

Ranking

Type

IPT

Spread Set

Republic of Finland

10yr

03-Jun-36

US$1.5bn

Sr Unsec

Fixed

SOFR MS+50a

SOFR MS+48


Launched: 10yr: US$1.5bn @ SOFR MS+48bp - Books above US$3.75bn (ex JLM)
IPTs: 10yr: SOFR MS+50a (currently ~CT10+11.2)


  • Issuer: Republic of Finland
  • Ticker: FINL
  • LEI Code: 743700M6Y2OQRVSBRD14
  • Ratings: Aa1/AA+/AA (Moody's/S&P/Fitch - s/n/s)
  • Format: Senior, unsecured, Reg S/144A, CAC, registered, NSS (for Reg S Tranche)
  • Size: US$1.5bn
  • Maturity Date: 03-Jun-36
  • Settlement Date: 03-Jun-26 (T+5)
  • Spread: SOFR MS+48bp
  • Coupon: Fixed, Semi Annual, 30/360, unadjusted
  • Denominations: US$200k + US$1k
  • Documentation: Issuer's EMTN Programme
  • Listing: Helsinki Stock Exchange (regulated market)
  • Governing Law: English Law
  • Clearing: Euroclear / Clearstream / DTC
  • Target Market: The target market for the Bonds is eligible counterparties and professionals (all channels for distribution), each as defined in MiFID II / UK MiFIR.
  • Lead Managers: Danske/GS/Nomura/SG
  • Fees: A fee will be paid in connection with the transaction
  • Books Closing: For US accounts at 8:30 AM NY
  • Timing: Allocations and Pricing to follow